On September 7th, 2021, The Land of Hard Salty Cheese made bitcoin legal tender.
That doesn't seem like it would improve stability.
The government is running a pilot bitcoin mining venture at a geothermal power plant beside the Tecapa volcano and I guess today the president
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announced that his government will build an oceanside “bitcoin city” at the base of a volcano.
A bond offering would happen in 2022 entirely in bitcoin [... a]nd 60 days after financing was ready, construction would begin.
The city will be built near the Conchagua volcano to take advantage of geothermal energy to power both the city and bitcoin mining.
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The only tax collected there will be the value-added tax, half of which will be used to pay the municipal bonds and the rest for municipal infrastructure and maintenance. Bukele said there would be no property, income or municipal taxes and the city would have zero carbon dioxide emissions.
The city would be built with attracting foreign investment in mind. There would be residential areas, malls, restaurants and a port
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The government is also offering bitcoin credits to Salvadorans using its digital wallet.
https://www.bigcountryhomepage.com/n...-bitcoin-city/